MetaMask’s Pooled Staking allows users to stake any amount of ETH, democratizing access to rewards.
Consensys Staking supports MetaMask’s initiative, boasting over 33,000 Ethereum validators.
Approximately 27% of Ethereum’s total supply, nearly 33 million ETH, is locked in smart contracts.
MetaMask has introduced a new Pooled Staking function which enables users to earn rewards directly from the wallet and stake any amount of Ether (ETH). The Consensys’ feature will enable wider participation in Ethereum security unlike previously when it was limited to users who owned 32 ETH or more.
Metamask has added Ethereum staking capabilities to its platform. pic.twitter.com/YI6HQIweg3
— Sergii Peleh (@PelehSergii) June 11, 2024
The majority of Ethereum holders do not have the minimum required 32 ETH. Therefore, MetaMask hopes that this new solution will promote equality in staking rewards.
In the initial phases, only a small number of users will have access to the service. The company is making plans to enter into the US and UK markets. With this update, more people will be able to join the Ethereum network and take advantage of its features.
Consensys Staking is used to back MetaMask Pooled Staking. The structure hosts more than 33,000 Ethereum validators and It functions in a multi-client, multi-cloud, and multi-region configuration. With over 1 million ETH staked, it maintains a participation rate of 99.9% and zero slashed validators.
ETH staking is an essential component of the Ethereum ecosystem. According to Nansen, an on-chain data platform, smart contracts hold almost 33 million ETH, or 27% of the token’s total supply. This underscores the significance of staking in the network. Liquid restaking is also becoming more popular and it accounts for more than 34% of all the value locked up in decentralized finance (DeFi).
The launch of Pooled Staking by MetaMask is a big step toward increasing accessibility to Ethereum staking. Lowering the entry barrier allows more users to contribute to network security and earn rewards. Consensys Staking’s assistance guarantees a solid and dependable infrastructure for this new feature. This initiative reflects the growing importance of ETH staking in the larger Ethereum ecosystem.
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The post MetaMask Unveils ETH Pooled Staking, Allowing Users to Stake Any Amount of Ether for Rewards appeared first on Crypto News Land.
